tax management in nigeria

Such an event caused many problems in the country. The first problem had been that when banks lost tons of money due to the stock market crash, they also lost the life’s savings of so many hard

Page 3: Introduction to the Financial System Page 7: Commercial Banks Page 12: The Share Market and the Corporation Page 15: Corporations Issuing Equity into the Share Market Page 19: Investors in the Share Market Page 24: Short-term Debt Page 28: Medium- to Long-term Debt Page 32: Interest Rate Determination and Forecasting Page 37: The Foreign Exchange Market Page 40: Factors that Influence the Exchange Rate Page 42: Futures Contracts and Forward Rate Agreements Page 47: Options

Through my lifetime, I have witnessed the ever-changing world of business and the myriad of global and regional, socioeconomic and political changes accompanied with it. This has not only shaped my actual reality, but has also sparked a genuine interest in global affairs and International economics and finance. From events of the 2008 global financial crisis, to more recent events in my home country Nigeria, who is currently in an economic recession, triggered by a drop in oil prices and financial mismanagement, it is a given that the world is a reflection of global interrelations, and with this, I describe economics as the core of world discussion and finance as its driving tool. This is the reason I am determined to devote myself to the cause of developing an expertise in the interaction between politics, international finance and global markets with the hopes of contributing to the building of an accountable and democratic economy both at home front and on an international platform.

The cause was the New York Times headlines made many foreign investors start to panic on the stock market decline, and the widespread fraud in the aftermath. More and more investors began to withdraw from the stock market. The financial invention allowed people to borrow money from the broker to buy stocks. It made the irrational exuberance in 20th century. While

In regards to the Financial Crisis of 2007-2009, a few conceivable reasons can be taken into consideration. For instance, high consumer deficit, high corporate deficit, complex money related securities, transient subsidizing markets got to be vital, extensively feeble administrative/business sector controls, shortcoming in the share trading system, shortcoming in the housing business sector, as well as worldwide monetary shortcomings. Besides the previously mention examples, the untrustworthy conduct by budgetary organizations, the disappointment of the national bank to stop lethal home loans, and over-obtaining by consumers can also be incorporated and taken into account. The effect of the monetary crisis from the perspective of firms was that they confronted declining interest for their products. The organizations thought that it was hard to acquire reserves, in light of the fact that the banks' trust in them had declined. Moreover, the organizations confronted solid rivalry from outside organizations. The likelihood of bankruptcy lingered. From the point of view of investors, the crisis implied conceivable loss of stores and loss of avenues to contribute (Carbaugh, 2006). The financial specialists expected to hunt down more

Moreover, the stock market crash in 1987 was a shock of stability of the financial system, not only because of the substantial price drop but also, we can clearly see that our functioning systems are significantly flawed and can later be perfected for a better future. Therefore, we learnt more than technical flaws, further improvements of our daily systems have to be made for a better

The definitive event of the early twenty-first century was The Financial Crisis of 2007-08. Since that event, scholars have tried to identify what the causes and the effects of the crisis. The causes and effects of the collapse are varied and many scholars show a consensus about what these causes and effects are.

In the following essay, I will briefly summarize some of the main events leading up to the global financial crisis. Following this, I will discuss the effect this had on the banks and ergo the credit supply, then examine how this contributed to the corporate failure. I will also pay some attention to how the market imperfection can affect firms real decisions. Finally, I will sum up the main points of the essay.

The purpose of the report is to primarily analyze the Indian stock broking industry and the various forces which affect the competitive position of firms within the industry. A three-phase analysis is carried out in which the first phase involves detailed research about the history of stock markets in India, the evolution of capital markets over the years during pre-independence era and later stages after independence. Important historical events which had a significant effect on the capital market industry as a whole were analyzed. A comprehensive study on macroeconomic policies which were brought about by the then Indian government in 1991 and their impact on the stock market and stock broking industry is carried out to

The subprime financial crisis of 2007-2008 was brought on by much more than unethical traders. It consisted of multiple variables: the deterioration in financial institutions’ balance sheets, asset price decline, increase in interest rates, and an increase in market ambiguity. This in turn led to the worsening of the adverse selection and moral hazard situation in the market, which led to a decline in economic activity, bringing forth the banking crisis. After the banking crisis, an unanticipated drop in the price level led to the debt deflation. Thus, the factors causing for the financial crisis are as listed: changes in assets market effects on financial institution’s balance sheets, the banking crisis, an increase in market uncertainty, an increase in interest rates, and government fiscal imbalances, and not only restricted to the unethical traders.

The global financial crisis of 2007-present caused the largest meltdown of major economies worldwide since the great depression of 1930. It involved the collapse of large investment banks and as a result affected all markets in the western world. A number of books, newspaper articles and media reports have been written in relation to what caused the crisis; due to the vast source of information and discussion on the topic, origins of the crisis could now be misconstrued. All forms of credible information; accurate financial data, statistics and reports are available to draw a conclusion from as to the cause, but greed was a motivating factor through the use of subprime

Stock markets are a central component to the functioning of a capitalist economy. All major economies have national stock markets and many economies have smaller markets as well in order to facilitate trade in small cap stocks, or other specialized securities such as derivatives. Sometimes the performance of a stock market is used in the media as a measure of economic performance, as the market is deemed to be comprised of rational economic actors whose actions are guided by high levels of knowledge. It is important for everybody to understand how stock markets work, and what the benefits and limitations are of using stock markets as a gauge of economic performance.

It is against this background, that besides the introduction other parts of the paper are structured as follows. Next to the introduction, the paper takes a look at the structure and development of the Nigerian financial system before explaining the role of the financial system in the Nigerian economy. Next to this is the section that addresses the history of banking reforms in Nigeria and the nature of the reforms. The last part concludes the paper after a critical look at development implications of banking sector reforms.

In this essay, we are trying to look at the factors responsible for the global financial crisis in 2008-09 which started in US and later spread across the world. By now, a lot of studies have been done on the global financial crisis of 2008. We explain briefly the role of the financial engineering which leads to combination of various financial securities, the actual risk of which is not clearly assessed and hence leading to the financial crisis. There were also some serious lapses in regulation and failure of the rating agencies in assessing the risks assumed by the financial products which accentuated the crisis.

In Nigeria today, a number of banks wanting to merge may run into difficulties, because most Nigeria banks are not quoted on the stock exchange and the assets of some are really bad. The effect of the merger is that merging banks in the country, under the current dispensation may lose their licenses and be issued new ones to reflect the new consolidated outfit. As we go on in the subsequent chapters, further critical look shall be taken on the effect that this development is likely to or will have on the Nigeria banking industry and the economy at large.